Nigeria’s indigenous vehicle manufacturing company, Innoson Vehicle Manufacturing (IVM) has revealed plans to set up an electric vehicle factory in Nigeria.
This disclosure was made by the company’s Head of Corporate Communications, Cornel Osigwe, while speaking to the Global Business Report on Arise Television about the need to boost made-in-Nigeria vehicles.
He revealed that the company’s Chairman, Innocent Ifediaso Chukwuma, had planned to set up an electric vehicle manufacturing plant in the country because every major component needed in the production of electric vehicles are available in Nigeria.
According to him, “In terms of electric vehicles, we have a strategic approach. The chairman has concluded plans to set up an EV manufacturing plant in Nigeria because every major component of producing the electric car is in Nigeria.
“All the raw materials are in Nigeria. It doesn’t make sense importing battery and major components of electric car battery which is the most expensive products of EVs.”
“So, the Chairman has thought it wise to set up an EV manufacturing company in Nigeria so that we can be able to start producing the EV.”
Innoson begins production of CNG vehicles
The Innoson Motors Head of the Corporation further revealed that the automobile company had begun production of compressed natural gas (CNG) vehicles.
According to him, some major marketers recently purchased some CNG-powered vehicles from Innoson and donated same to the presidency.
Osigwe also said that the presidency would be commissioning the CNG manufacturing arm of the company soon.
In his words, “Just recently, about last week or two, we have major marketers that purchased several CNG-enabled buses that we produced and donated to the presidency.
